Average Monthly Salary in Former Soviet Union Republics 2016

Updated: 8 September, 2016 seen 6,398
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About two years ago I first compared average monthly salary in Former Soviet Union Republics. Now, two years later, I decided to compare again. I was surprised after seeing results. Let me explain.

First - call it as you wish - major world economic crisis, sanctions against Russia, better integrated or worst integrated parts of the World, but after seeing huge drops in all but Baltic States and Armenia's average salary for me it seems, those countries are still very closely related with Russia, at least in economical plan, and I'm not saying it is good nor it's bad. It's just how it looks for me. 

If exchanged to US dollar Russia's monthly average salary in Russian roubles  in past two years have dropped by whooping -359 USD. If you are interested in former Soviet Union space, you have probably heard about events in Ukraine, sanctions against Russia and Russian rouble troubles against American dollar. Those of you who follows my blog, had probably read about my worries about weak Georgian Lari against American dollar. 

Not only national currencies have lost their value against USD. Euro have lost some value as well. So for example, two years ago, when I firstly compared average monthly salary rates in former Soviet Union space 1 USD to EUR = 0.7718.

Now, two years later 1 USD to EUR = 0.8893

About Former Soviet Union republics - The post-Soviet states, also collectively known as the former Soviet Union (FSU) or former Soviet Republics, are the 15 independent states that emerged from the Union of Soviet Socialist Republics in its dissolution in December 1991, with Russia internationally recognized as the successor state to the Soviet Union.

Before getting down to the table, I must admit that gathering data for these 15 former Soviet States was pretty hard, with Central Asian countries been the hardest, some data are estimates (marked with *). All, but three Baltic States (Estonia, Latvia and Lithuania) maintains their national currencies. I have simplified data by using USD or EUR exchange rates for countries with national currencies. Baltic States have adopted EUR currency.

  Net Salary 2014 Net Salary 2016 Change  
Estonia 1065 821 1054 937 -11 115
Latvia 745 574 746 664 1 89
Lithuania 720 555 676 601 -44 45
Russia 851 656 492 438 -359 -218
Armenia 342 263 363 323 21 59
Georgia 413 318 340 303 -73 -15
Belarus 596 459 321 286 -275 -173
Kazakhstan 548 422 289 257 -259 -165
Turkmenistan *331 255 250 222 -81 -33
Azerbaijan 553 426 246 219 -307 -207
Moldova 263 202 214 191 -49 -11
Uzbekistan* 203 156 202 180 -1 23
Kyrgyzstan* 383 295 170 151 -213 -144
Ukraine 237 182 166 148 -71 -34
Tajikistan* 220 169 100 88 -120 -81
Average 498 384 375 333    

Data source: List of European countries by average wage

As of 2016, the better situated where the Baltic states, with Estonia making a huge leap with EUR 957 net monthly salary, followed by Latvia (EUR 664) and Lithuania (EUR 601) Russia from the 2nd place in 2014 have dropped 4th with EUR 438 monthly net salary,

Armenia and Georgia follows. As an expatriate in Georgia it's nice for me to see Georgia climbing from the 8th place in 2014 to rank 6th. Cool. Still Georgia have lost USD -73 or EUR 15 in monthly average since 2015.

Central Asian countries (with exception Kazakhstan) receives the least. Yes, salary have dropped in Ukraine as well, if exchanged to USD/EUR.

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Hi! My name is Reinis Fischer (38). Dad, husband, options traderdividend income investorcrypto hedge fund manager, drone enthusiast, world traveler, photographer, and passionate lover of Georgian cuisine (vegetarian). 

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